GCC countries plan huge infrastructure investments
The countries of the Gulf Cooperation Council (GCC) plan to invest $ 968 billion in major projects over the next ten years. This investment includes 1,638 projects in different sectors, however the construction segment, infrastructure and the oil industry account for 80% of all projects. Just for roads and railways, the oil-rich countries plan to direct $ 97 billion from 2011 to 2020, U.S. $ 79 billion for rail, including trains, subways and trams. The most ambitious project, valued at U.S. $ 30 billion, is the railroad that will connect all the countries of the GCC, whose construction is scheduled to begin in 2012. For roads construction, investments are put at $ 18 billion.
It is expected that already in the next five years these Arab nations will invest $ 15 billion in the expansion of ports. Today the largest investments are concentrated in and , UAE, a country which accounts for 59% of maritime cargo handling in the area. The GCC countries recognized the need to accelerate and facilitate the implementation of these projects through mechanisms such as public-private partnerships (PPPs ), foreign direct investment, joint ventures, among others. (Source: english.nuqudy.com)
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